Missouri Attorney General sues CoinFlip, alleging its crypto ATMs facilitate fraud

Odaily reports that Missouri Attorney General Catherine Hanaway has filed a lawsuit against CoinFlip operator GPD Holdings, alleging that the cryptocurrency ATM network facilitated fraudulent transactions while charging high fees, violating the state's consumer protection laws.

Over the past two years, Missouri has reported approximately 350 cases related to cryptocurrency ATMs, with losses potentially reaching millions of dollars. The lawsuit seeks consumer restitution, civil penalties of up to $1.826 million, and an injunction barring the company from operating in the state. (The Block)